Complete the excercise E8-11 Recording payroll taxes According to a summary of the payroll of Newman


Question Description:

25

Complete the excercise E8-11 Recording payroll taxes According to a summary of the payroll of Newman 1 answer below » Complete the excercise E8-11 Recording payroll taxes According to a summary of the payroll of Newman Publishing Co., $600,000 was subject to the 7.5% FICA tax. Also, $50,000 was subject to state and federal unemployment taxes. a. Calculate the employer’s payroll taxes, using the following rates: state unemployment, 4.3%; federal unemployment, 0.8%. b. Illustrate the effects on the accounts and financial statements of recording the accrual of payroll taxes. Attachments: Q..docx Q.-Attachment….docx Sep 09 2015 12:56 PM

Answer

25